Tencent’s Investment In JD.com

Davis Polk advised Tencent in connection with its purchase of additional Class A ordinary shares to be issued by JD.com and the renewal of their strategic cooperation agreement for three years.

The new shares will be issued for a total consideration of over $250 million at prevailing market prices at certain pre-determined dates during the three-year period. Under the renewed strategic cooperation agreement, Tencent will continue to offer JD.com prominent level 1 and level 2 access points on its Weixin platform to provide traffic support, and the two parties intend to continue cooperation in a number of areas such as communications, advertising and membership services.

JD.com is a leading technology driven e-commerce company and retail infrastructure service provider in China. Tencent has been a significant shareholder and strategic partner with JD.com since March 2014.